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Prezzi e inflazione nel mercato dell’auto in Italia

Author

Listed:
  • Luigi CAMPIGLIO

    (Istituto di Politica Economica, Università Cattolica di Milano)

  • Alessia LONGHI

    (Market Analyst, Trelleborg Wheel Systems)

Abstract

We draw on a complete data-base for the Italian automotive market which allows to identify make, model and version for all the vehicles sold, including the main technical characteristics for each version. The period considered is from January 1998 to March 2002. The main result is that the official inflation rate, measured on a sample, underestimates the true inflation rate, measured on the universe. Over the period the official annual inflation rate was +2,1 percent, while our estimate on the universe was + 5,2 percent. We suggest two explanations: increasing market variety and improved quality. Our estimates confirm a significant increase in market variety. Inflation rate is lower in the lower market segments and higher in the higher ones, perhaps not full represented in the sample. The role of quality is confirmed, but its effective impact on inflation measure is ambiguous.

Suggested Citation

  • Luigi CAMPIGLIO & Alessia LONGHI, 2004. "Prezzi e inflazione nel mercato dell’auto in Italia," Rivista Internazionale di Scienze Sociali, Vita e Pensiero, Pubblicazioni dell'Universita' Cattolica del Sacro Cuore, vol. 112(3), pages 307-337.
    • Handle: RePEc:vep:journl:y:2004:v:112:i:3:p:307-337
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    More about this item

    Keywords

    inflation measurement; product variety; quality measurement; price setting; automotive;
    All these keywords.

    JEL classification:

    • C43 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics - - - Index Numbers and Aggregation
    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
    • L11 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Production, Pricing, and Market Structure; Size Distribution of Firms

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